According to Daily Post, Aliko Dangote, the President of Dangote Group and Africa’s richest man, has disclosed that the price of Premium Motor Spirit (PMS), commonly known as petrol, produced by his newly launched refinery, will be determined by the Federal Executive Council (FEC) led by President Bola Ahmed Tinubu.
Dangote made this revelation during an interview with Channels Television following the announcement of the first rollout of petrol from his 650,000 barrels per day refinery on Tuesday.
Dangote stated that the refinery’s petrol will be available at filling stations within 48 hours, depending on the distribution arrangements with the Nigerian National Petroleum Company Limited (NNPCL).
The $20 billion refinery, which is the largest single-train refinery in the world, is expected to play a significant role in meeting Nigeria’s energy demands and reducing the country’s reliance on imported fuel.
He emphasized that the pricing of the petrol will be a decision made by the FEC, ensuring that it aligns with the broader economic policies of the government.
“On PMS price, it is an arrangement that is designed and approved by the Federal Executive Council led by His Excellency, President Bola Ahmed Tinubu.
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As soon as it is finalized, which is what he is pushing once he finishes with the FEC meeting, it can be today or tomorrow we are ready to roll out in the market,” Dangote stated.
